Fortis sale blocked by shareholders

by David Masters

Story link: Fortis sale blocked by shareholders

Fortis shareholders have voted against proposals to sell the bank’s Belgian assets to French bank BNP Paribas. The Belgian government said the decision puts Fortis in danger of total collapse. Shareholders ignored warnings from acting Fortis chairman Jan-Michiel Hessels that Fortis would face potential bankruptcy if the sale to BNP was blocked. Following the vote, [...]